Goal
The goal of our PREP Plan is to identify and quantify the potential operational and financial risks associated with business interruption, interdependency and contingent business interruption loss exposure. It determines which processes pose the most critical loss potentials to operations if lost for a sustained period.
Definitions
- Business Interruption: direct property damage losses that interrupt operations.
- Interdependency: the effect a business interruption would have on another operation.
- Contingent: the effect of a loss of a key supplier to the College.
- Catastrophic: is intended to mean the total or near total destruction of a facility, process or location.
Project Objectives
- Provide a framework for understanding and organizing what is needed to meet and withstand the economic challenges of a disabling business interruption.
- Establish the interrelationship of this disaster recovery and business continuity-planning project as the preferred provider for disaster restoration.
- Determine whether or not a business is vulnerable to a wide range of hazard exposures.
- Identify and evaluate departments and facilities performing unique or specialized services and functions.
- Evaluate critical equipment that supports key services and its replacement time.
- Estimate the potential downtime from a variety of disasters.
- Identify and evaluate dependencies and interdependencies between multiple faciilites
- Evaluate vital records management storage practices.
- Evaluate voice and data communications between facilities and identify those that are critical to continued operations.
Expected Outcomes
- Develop realistic recommendations for contingency and disaster recovery plans.
- Determine which processes pose the most critical loss potentials to operations.
- Ensure that business interruption risks are appropriately handled, through proper planning, contractual transfer, loss prevention and or insurance.
- Assure that the disaster management function within the business is part of the business’ competitive business strategy.
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